NARENDER JINDAL,DELHI vs. ITO WARD 63(3), NEW DELHI

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ITA 6340/DEL/2019Status: DisposedITAT Delhi30 November 2022AY 2007-082 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that since the quantum addition was restored to the AO, the penalty levied by the revenue could not sustain at this juncture. The AO was granted liberty to initiate penalty proceedings de novo after finalization of the assessment.

What were the facts?

The assessee filed an appeal against the CIT(A) order. The quantum addition had been restored to the AO by a previous Tribunal order.

What were the issues?

Whether penalty can be sustained when the quantum addition on which it is based has been restored to the AO for fresh adjudication.

Which sections of the Income-tax Act were involved?

Section 271(1)(c)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘E’, NEW DELHI

Before: Dr. B. R. R. KumarSh. Yogesh Kumar US

Hearing: 28.11.2022Pronounced: 30.11.2022

Per Dr. B. R. R. Kumar, Accountant Member:

1.

The present appeal has been filed by the assessee against the order of ld. CIT(A)-20, New Delhi dated 25.02.2019.

2.

It has been brought to our notice that the quantum addition stands restored back to the file of AO by the order of the Tribunal in dated 17.03.2021 to decide the issues as per the facts and law after granting an opportunity to the assessee to substantiate his case and hence the penalty levied by the revenue do not sustain at this juncture. The AO would be at liberty to initiate the penalty proceedings de novo after finalization of the assessment as per the provisions of the Income Tax Act, 1961.

3.

In the result, the appeal of the assessee is allowed for statistical purpose. Order Pronounced in the Open Court on 30/11/2022.

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